If you are doing a live-in flip why not use that equity for a down payment with a refi or HELOC?

Quote from @Christina Weaver: Hi, @Steven Hamilton II  my husband and I live in California, a community property state.

@Martti Eckert I live in Los Angeles and have done a handful of BRRRRs in Missouri so feel free to reach out with any lending related questions to pulling off BRRRRs in Ohio. 

It’s awesome that you want to use your downtime to learn more about the industry and make some extra income as a VA.

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

Recently I’ve been living next to an illegal and poorly run STR operation and I can now better empathize with folks who strongly oppose them.

So I would suggest keeping your STR property geographically close and doing as much as possible to keep your profit% high as possible.As far as the actual house you use, I would just say - be honest, be fair and strive for the best area, most amenities, cleanest house, best communication, and any other extras you can get.

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

This will give you the opportunity to ask questions and get live feedback right there on the spot.Once you have done the above - then you just have to do it. 

A longer timeline will make paying the extra 2% now more attractive.